New York Attorney General Letitia James issued a warning to the people of New York about investing in cryptocurrencies.
Investors have lost hundreds of billions of dollars in digital assets as cryptocurrency market values hit an all-time low, according to a press release issued by the New York Attorney General’s Office.
The cryptocurrency industry is subject to extreme and unpredictable price volatility, making cryptoassets one of the riskiest investments, according to the report.
The report also highlighted the slump in market prices in May, with Bitcoin falling below 50% of its all-time high from November 2021.
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